Weatherly Lumber Company processes wood pulp for manufacturing various paper products. The company employs a process system for its manufacturing operations. All direct materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. This is the company's production schedule for May:

Percentage Completed

Ton of

Pulp Materials Conversion

Work in Process Inventory, May 1 4000 100% 50%

Started during May 12000

Units to account for 16000

Units from beginning work in process which

were completed and transferred out in May 4000

Started and completed during May 7200

Work in Process inventory, May 31 4800 100% 50%

Total Units accounted for 16000

The following cost data are available

Work in Process Inventory May 1

Direct Materials $ 61,280

Conversion 7,256

Cost incurred during May

Direct Material 180,480

Conversion 301,600

Required

1. Calculate the equivalent units of direct materials and conversion during May. Use the FIFO method.2.

2. Calculate the equivalent units of direct materials and conversion during May. Use the FIFO method.

3. Calculate the cost per equivalent unit for both direct materials and conversion during May. Use FIFI method.